Investing

Top Analyst Upgrades and Downgrades: Adobe, AMD, Corning, Domino's, Lennar, Lululemon, Oracle, Peloton, SunPower, Tesla, Wells Fargo and More

Lennar Corp. (NYSE: LEN) was maintained as Buy and its target price was raised to $94 from $88 at BTIG. Shares closed down 0.4% at $75.50 on Thursday, with a $77.07 prior consensus target price.

Lululemon Athletica Inc. (NASDAQ: LULU) was down 1.2% at $320.00 on Thursday in the post-earnings trading. Morgan Stanley reiterated its Equal Weight rating based on valuations, but the firm still raised its target price to $320 from $306.

Oracle Corp. (NYSE: ORCL) managed to beat earnings and revenue expectations with its increased focus on the cloud and with people working from home. Morgan Stanley maintained its Equal Weight rating but raised its target to $62 from $58, and RBC Capital Markets raised its target to $60 from $51 while maintaining a Sector Perform rating. Piper Sandler maintained Oracle as Neutral and raised the target to $50 from $44. Shares were up 0.67% at $57.33 ahead of earnings, with a $55.20 consensus price target. The stock was indicated up over 5% at $59.80 on Friday morning.

Peloton Interactive Inc. (NASDAQ: PTON) closed down 3.75% at $87.75 ahead of earnings, but the stock was last seen trading up almost 14% at $99.80 in Friday morning’s post-earnings reaction, as this marked its first profitable report. Truist Securities reiterated its Buy rating and raised its longer-term price target to $115 from $60, based on more conviction that its model is sticky. Also, Raymond James reiterated it as Outperform and raised its target to $109 from $65, and Rosenblatt reiterated its Buy rating and raised its target to $130 from $105. KeyBanc Capital markets reiterated it as Overweight and raised its target to $120 from $74.

RedHill Biopharma Ltd. (NASDAQ: RDHL) was started with a Buy rating a $26 target price (versus a $10.16 close, after a 7.8% gain) at BTIG.

Satsuma Pharmaceuticals Inc. (NASDAQ: STSA) was downgraded to Underperform from Neutral at Credit Suisse after the stock fell about 76% to $5.62 on Thursday when its migraine study was deemed to be nearly the worst case.

Select Interior Concepts Inc. (NASDAQ: SIC) was started with a Buy rating and a $10 target price (versus a $6.32 close) at Truist.

SunPower Corp (NASDAQ: SPWR) was raised to Outperform from Neutral and its target price was raised to $13 from $10 at Robert W. Baird. Shares closed down 9.1% at $10.66 on Thursday, with an $8.56 consensus target price and a 52-week trading range of $2.64 to $12.46.

Tesla Inc. (NASDAQ: TSLA) was maintained as Neutral at UBS, with some caution about the current price after the split, but the firm still raised it to $326 from $160 in this call, as another catch-up call ahead of its September 22 Battery Day event. Tesla closed up 1.4% at $371.34 on Thursday, and it was indicated up 3% at $382.60 as Elon Musk is planning to sell export EVs out of China to Asia and Europe.

Wells Fargo & Co. (NYSE: WFC) was maintained as Equal Weight but its target price was lowered to $23 from $25 at Morgan Stanley. Wells Fargo closed up 0.5% at $23.95 a share on Thursday and was indicated up 0.6% at $24.10 on Friday. The prior consensus target price is $29.62.

The Jefferies Global team did a massive survey across the globe, trying to get a sense of where people now stand on the COVID-19 pandemic. While there has been a change in attitudes since the firm’s April survey, those surveyed remain concerned and cautious.

After a shakeup in the Dow Jones industrials and a prominent stock split, tech giants now top the list of the most shorted Dow stocks.

Thursday’s top analyst upgrades and downgrades included BigCommerce, Exxon Mobile, FedEx, Penn National, Rio Tinto, Trillium Therapeutics and Zscaler.